localmarket rty report prope local Your This report covers your local suburbs of Clagiraba, Gaven, Guanaba, Maudsland and Mount Nathan
November
2020
(07) 5581 4422 nerang@ljh.com.au nerang.ljhooker.com.au
LJ Hooker Nerang
What’s happening in our local property market Strongest growth
Most traded
Mount Nathan 7.2%
Fastest sellers
Maudsland 110 sales
Maudsland 39 days
With Covid lockdown restrictions easing, the property market is primed to pick up as we enter the summer selling season. Transaction numbers were hit hard during the pandemic. There were just 59 listings advertised for sale in our area compared to 101 the year prior. But this lower volume has kept prices strong which has been great news for sellers. And the news is likely to continue to be good as having spent so much time at home in 2020, many people are ready to move and there are some great incentives for first home buyers. With so much pent up demand, we’re confident that properties that list to sell at this time will continue to perform very strongly.
Across our local market, we have seen 225 properties listed for sale, over the past 12 months, which is lower than the same time last year. This has impacted sales with 175 taking place over the past 12 months. Looking at the house market, the best performing suburb, over the past 12 months, has been Mount Nathan which has seen its median sales price grow by 7.2%. The median sales price of a home in Mount Nathan is now $857,500. Gaven saw its median house sales price grow by 5.6% with the median price now sitting at $702,500 and Maudsland eased -10.3% across 110 individual sales with a median of $565,000.
Housing rental yields in Maudsland are currently 4.8% demonstrating why the area is popular with investors. There is not sufficient data discuss the time it takes to sell a home in our region.
The most traded suburb for houses in our area has been Maudsland with 110 homes sold over the past 12 months and it also had the most unit sales with 2 transactions. House prices in Maudsland have performed poorly with falls of -10.3% and now have a median price of $565,000.
Top performing local suburbs Mount Nathan
23
$857,500
7.2%
2.8%
Gaven
18
$702,500
5.6%
1.4%
Maudsland
110
$565,000
-10.3%
2.2%
Houses
Number sold (12 months)
Median Price
Median Growth 12 months
Annual Change over 10 years
LJ Hooker Nerang
This month it’s all about Maudsland ●
One of the most popular suburbs in our region is Maudsland where 158 houses were listed for sale over the past year. Houses in Maudsland have an average land size of 1,186 square metres.
Suburb snapshot
●
Houses
Units
110
2
$565,000
NA
-10.3%
NA
Median Asking Rent
$535
NA
Indicative Gross Rental Yield
4.8%
NA
Total Listings
158
NA
Average Days on Market
39
NA
$70.39m
$2,265,000
Number Sold
The suburb is tightly held with residents typically holding their house for 7.5 years.
●
The median value of houses in Maudsland is $585,210. This is higher than the median sales price which is currently $565,000.
●
Over the past 12 months, buyer interest has eased with 110 houses sold this year compared to 117 sales last year.
●
Houses are typically selling within 39 days.
●
Sales prices have eased by -10.3% over the past 12 months and vendors are typically discounting by -3.0% to secure a sale.
●
All of this means it is now a great time to sell in Maudsland.
Median Sale Price Over 12-month period (1 Aug 2019 to 31 Jul 2020)
●
Annual Change in Median Price
Total Value of Sales
Our local area expertise – long term growth 10 year growth suburbs in our area
Research shows that most people own a property for an average of seven years before they decide to sell.
The best performing suburb in our area for long term growth is Mount Nathan where houses have observed a compound growth of 2.6% over the past 10 years. This figure is annualised, so it identifies that properties in the suburb have grown by this average amount each year. This figure also compares to the median price change of 7.2% over the past 12 months.
Suburb Over 12-month period (1 Aug 2019 to 31 Jul 2020)
This means that while understanding growth over the past year is a good indicator of current performance and if a suburb is 'hot', the longer term performance of a suburb is often a more reliable indicator of the value of a property as an investment.
Houses
10yr Compound Growth
Mount Nathan
2.6%
Guanaba
2.4%
Maudsland
1.9%
Gaven
1.0%
The median price of houses in Mount Nathan is currently $857,500. The suburb has also performed very strongly over the past three years with a growth of 9.9%. Of course, past growth is not a guarantee of future performance but it does give you an insight into the fundamentals. All in all, the data signals that Mount Nathan could be worth considering for your next property purchase.
LJ Hooker Nerang
We have people lining up!
We are experiencing the best market we have ever seen, with buyers and tenant numbers well beyond the norm! If you are thinking of selling or changing property management - there’s no better time than now! Contact us today to find out how we can help make your property dreams happen. Know what your property is worth in today’s market. Ask the team at LJ Hooker Nerang. (07) 5581 4422 nerang@ljh.com.au nerang.ljhooker.com.au
Data for this report is provided by CoreLogic RP Data. In compiling this publication, CoreLogic has relied upon information supplied by a number of external sources. CoreLogic does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the supply of such information. This data is provided as general information only and is not intended as financial advice. For our complete terms and conditions of use, go to www.corelogic.com.au